While that person is selling i am adding occasionally. The stock price is below their IPO price basically. Their first initial raise as TO was at $0.15 canadian when they had no revenue and no towers. Now, they have 42 towers, over 400 towers in backlog and monthly revenues.
To me, using their simple numbers in their Investor presentation of 15 times cash flow valuation then
30 towers with no collocation would be valued at US$5.4M
12 towers with 2 tenants would be valued at US$4.32M
Current BV of TO on towers only now would be US$9.72M/93M shares is US$0.10/share on their towers only.
Currently they have another 30 being constructed.
Now, i know they borrowed $1M recently, so take that out which brings it down to US$0.09/share
I assume no value to their MLA agreements, so thats $0
I was told that TCTS revenue run rate is around US$3,000,000.00, lets say half that to be safe, so US$1.5M, lets value that at 1 times revenue, so TCTS is US$1.5M, we own 70% of that company or US$1.05M or $0.01/share
There should be some value put on the towers under construction, so i gave that around US$10,000/tower times 30 towers which is US$300K
tallying all of that would give me a BV of TO of US$10.07M or $US0.108/share or $0.11/share.
Now, i looked at the average Price/Book of the big three towers and that turns out to be 3.21 * BV.
i am not even including a multiple on TO as they need to prove themself.
so, at the current price of US$0.0894/share, i am a buyer.
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